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According to Chief Executive magazine, California is rated the worst state to do business in, while Texas on the other hand, was rated the best state to do business in.

In October of 2009, California had an unemployment rate of 12.5%, while Texas' was 8.3%.

What’s wrong with California, and what’s right with Texas? It really comes down to four fundamental differences in the value systems embodied in these states:

1. Texans on average believe in laissez-faire markets with an emphasis on individual responsibility. Since the '80s, California’s policy-makers have favored central planning solutions and a reliance on a government social safety net. This unrelenting commitment to big government has led to a huge tax burden and triggered a mass exodus of jobs. The Trends Editors examined the resulting migration in “Voting with Our Feet,” in the April 2008 issue of Trends.
2. Californians have largely treated environmentalism as a “religious sacrament” rather than as one component among many in maximizing people's quality of life. As we explained in “The Road Ahead for Housing,” in the June 2009 issue of Trends, environmentally-based land-use restriction centered in California played a huge role in inflating the recent housing bubble. Similarly, an unwillingness to manage ecology proactively for man’s benefit has been behind the recent epidemic of wildfires.
3. California has placed “ethnic diversity” above “assimilation,” while Texas has done the opposite. “Identity politics” has created psychological ghettos that have prevented many of California’s diverse ethnic groups and subcultures from integrating fully into the mainstream. Texas, on the other hand, has proactively encouraged all the state’s residents to join the mainstream.
4. Beyond taxes, diversity, and the environment, Texas has focused on streamlining the regulatory and litigation burden on its residents. Meanwhile, California’s government has attempted to use regulation and litigation to transfer wealth from its creators to various special-interest constituencies.MP: The 4.2% difference in October jobless rates (12.5% in CA vs. 8.3% in TX) tells the story (see graph above). In fact, California's unemployment rate has been more than 4 percent above the rate in Texas every month this year except for January, and that is the first time in state jobless rate history back to 1976 that there has ever been a 4-point difference in the unemployment rates between those two states.

As you can see, California, a state with liberal policies and high taxes and largely liberal population has higher unemployment rates, a massive exodus of their residents, and higher debt rates.

But Texas, a more conservative and religious state, has lower taxes, lower unemployment rates and lower rates of debts and higher population growth.

See the difference between a liberal and conservative society?

Looking back over this it is obvious that, years later, nothing has changed much except Texas is BOOMING while California barely can keep its head above water.

The report blamed most of the shortfall on the pension plans’ expectation of future annual investment returns of 7.75 percent, versus a realistic expectation of a 4.14 percent annual return. The cabal of California politicians, bureaucrats and crony consultants that justified the granting of lucrative benefits to employees, while failing to contribute enough to support the true pension costs, solemnly dismissed the Stanford report as unsophisticated reflections by academics.

If the California state pension plans adopted the same 3.8 percent rate they are only willing to credit when participants want to leave, their published $288 billion in pension shortfall would metastasize into an $884 billion California state insolvency.

It doesn’t take a Stanford MBA to realize producing consistently high investment returns since 2007 has been difficult in the extreme. The California state pension plans that currently control $432 billion in assets suffered $109.7 billion in losses during the 2008-09 recession.

So, you discount the increase in tax revenue as a sign of an improving economy.

jajajajaaja...

THEY RAISED TAXES SO HIGH IT JUST APPEARS THEY HAVE A SURPLUS.
THOSE WINDOW LICKING LIBERALS WILL STILL SPEND IT FASTER THAN THEY CAN RAISE IT.

did that help any ?

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